April another mixed month for furniture measurements
By Janice Chamberlain -- Furniture Today, June 6, 2004
High Point — High Point— April proved another mixed month for furniture economic indicators.
Compared with month-earlier results, just four of the indicators were up, although all seven posted increases matched against year-ago figures.
Sales of existing homes in April were 6.64 million at an annual rate, up 2.5% compared with March and up 15.1% over April 2003. The National Assn. of Realtors compiles statistics on sales of existing homes.
The other two housing indicators, new home sales and privately owned housing starts, were both down from March. April sales of new single-family homes were an annualized 1.1 billion, an 11.8% decline from March, while housing starts were just shy of 2 billion at an annual rate, a 2.1% drop.
However, both indicators gained compared with April 2003, with housing starts up 20.3% and new home sales up 6.4%.
The U.S. Departments of Commerce and Housing and Urban Development release statistics on new home sales, and Commerce, through the Bureau of the Census, releases statistics on housing starts.
Consumer spending on furniture and bedding in April reached $76.1 billion at an annual rate, up 1% from March and up 8.7% over the year-earlier month.
If furniture spending continues at its present pace, it will finish the year at $75.5 billion, up nearly 5.5% from 2003's $71.6 billion. Consumer spending is tracked by Commerce.
According to the U.S. Bureau of Labor Statistics, furniture factory employment, which includes contract and residential production workers, was 577,100 in April, gaining 0.4% from March figures. Compared with April 2003, employment also was up 0.4%.
April furniture factory capacity, measured by the U.S. Federal Reserve Board, advanced 1.3% and grew 4.9%, respectively, from March 2004 and April 2003.
The furniture producer price index for April stood at 159.1, down 0.1% from March and up 0.6% from a year ago. Furniture PPI is compiled by the Bureau of Labor Statistics.
At the end of last year, Commerce revised consumer spending data for 2003 and prior years. More information about the revision was in the March 8, 2004, issue of Furniture/Today.
All April 2004 numbers are preliminary figures and are subject to revision.
| April furniture indicators | ||
|---|---|---|
| % change from March 2004% change from April 2003 | ||
| Existing single-family home resales | 2.5% | 15.1% |
| Furniture factory capacity utilization | 1.3 | 4.9 |
| Consumer spending for furniture & bedding | 1.0 | 8.7 |
| Furniture factory employment | 0.4 | 0.4 |
| Furniture producer price index | -0.1 | 0.6 |
| Privately owned housing starts | -2.1 | 20.3 |
| Sales of new single-family homes | -11.8 | 6.4 |
| Source: Furniture/Today market research, U.S. Dept. of Commerce, U.S. Dept. of Labor, National Assn. of Realtors, U.S. Dept. of Housing and Urban Development, U.S. Federal Reserve Board | ||
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Aug. furniture indicators mixed
Oct 30, 2005 -
February furniture indicators mixed
May 1, 2005 -
Aug. furniture indicators mixed
Oct 18, 2005
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